How Low Can You Go?
Tim's response to the last topic has me wondering what the lowest price anyone has paid for their property.
My lowest cost doublewide (26 X 60) was $10,000 (looks like new). I get $700 rent for this one.
My lowest cost SFH was 2br, 2ba for $17,500 (I know Tim's going to beat me on this one). $2,500 rehab on this one. (I actually bought a 30br, 1ba for $9K, but I flipped it a couple days later for $13,500, so I'm not really counting that)
My lowest per unit cost in an apartment building is $4,285.71 per unit. That building only needed about $3,000 of total rehab! Rents will be $375 per unit when I get the rehab (painting) finished.
Let's hear it you cheapskates!
Mike